I always hesitate to disagree with Paul, but I think that the paragraph quoted by Diana from CG31630 is a valid interpretation of the legislation.
As Paul says, section 62(6) TCGA 1992 applies only for the purposes of that section, but that surely means the whole of section 62.
It is sub-section 62(4) that lays down the tax treatment of a person acquiring an asset as legatee. If a variation within 62(6) has changed the legatee, “as if the variation had been effected by the deceased,” there is some logic in the new legatee becoming the disponor for CGT purposes.
I would have thought that HMRC’s approach was likely to be helpful in more cases than it is unhelpful.
**Anthony Nixon
**Irwin Mitchell Private Wealth